19 JUL, 2022

ETH Price Breakdown: Low Volume Hints A Bearish Reversal

The to and fro price swing of Ethereum which has for some time wobbling between $1275 and $1000 hints that traders are still in a state of ambiguity and trapped in uncertainty.

When reports last came in ETH was changing hands at $1,213.83 up 6.44% and has brought the crypto asset to overhead resistance ($1275).

However experts are hinting of a bearish reversal due to the sinking volume activity. If this becomes a reality we could see the altcoin getting back to $1000 support.

ETH Price In A Consolidation Phase

ETH/USDT pair for the past one month was a perfect example of the consolidation phase

You should conduct a study prior to beginning your investmentsand it swung in between $1275 and $1000.

From its top, where Dogecoin is presently trading, that is a fall of more than 90%.

The swing happened thrice and indicates aggressive buying and selling on both ends.

As the prolonged crypto winter continues such swings of values between a particular range or band is indicative of a short break period before the prevailing trend continues.